Ansuma Basumatary at 00:48, 29 April 2026

2026-04-29T00:48:16Z

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{{Short description|Indian consumer goods company}}
{{Infobox company
| name = AWL Agri Business
| logo = AWL Agri Business.jpg
| logo_size = 200
| caption =
| image =
| image_caption =
| type = [[Public company|Public]]
| traded_as = {{ubl|{{BSE|543458}}|{{NSE|AWL}}}}
| ISIN = INE699H01024
| genre =
| fate =
| predecessor =
| successor =
| foundation = {{Start date|1999}}
| founder = [[Gautam Adani]]
| defunct = 
| location_city = [[Ahmedabad]]
| location_country = India
| location =
| locations =
| area_served = Worldwide
| key_people = {{ubl|Dorab Erach Mistry <br> {{small|([[Chairman]])}}|Angshu Mallick <br> {{small|([[CEO]])}}|Shrikant Kanhere <br> {{small|([[CFO]])}}|Deesha Trivedi <br> {{small|([[Company Secretary]])}}<ref>{{cite web |title=Adani Wilmar |work=WSJ |url=https://www.wsj.com/market-data/quotes/IN/XBOM/543458?mod=searchresults_companyquotes }}</ref>}}
| industry = [[fast moving consumer goods|FMCG]]
| products = {{hlist
| [[Cooking oil]]<ref>{{cite web |title=Adani Wilmar Products|work=adani wilmar |url=https://www.adaniwilmar.com/businesses/food-and-fmcg}}</ref>
| [[Rice]]
| [[Pulses]]
| [[Flour]]
| [[Sugar]]
| [[Soyabean|Soyabean Foods]]
| [[Soap]]
| [[Sanitizer]]
| [[Poha (rice)|Poha]]
| [[Khichdi]]
}}
| brands = *Fortune
*Kohinoor
| revenue = {{up}} {{INRConvert|75148|c}} (2026)<ref>{{cite web |title=Stock share price of Adani Wilmar |work=BSE India |url=https://www.bseindia.com/xml-data/corpfiling/AttachLive/a910ef5c-a756-4472-9cac-a591a300d89d.pdf
}}</ref>
| operating_income = {{down}} {{INRConvert|1393|c}} (2026)
| net_income = {{down}} {{INRConvert|1045|c}} (2026)
| assets = {{up}} {{INRConvert|24758|c}} (2026)<ref>{{cite web |title=Stock share price of Adani Wilmar |work=Screener.in |url=https://www.screener.in/company/AWL/
}}</ref>
| equity = {{up}} {{INRConvert|10444|c}} (2026)
| num_employees = ~2678 (2024)
| parent = [[Wilmar International]] (57%)<ref name="adani">{{cite news |title=Adani sells remaining 7% stake in AWL in block deal |url=https://www.thehindu.com/business/adani-sells-remaining-7-stake-in-awl-in-block-deal/article70306191.ece |access-date=11 December 2025 |work=The Hindu |date=21 November 2025 |language=en-IN}}</ref>
| divisions =
| subsid =
| homepage = {{Official URL}}
| footnotes = <ref name="shareholding">{{Cite web |title=Adani Wilmar shareholding |url=https://www.moneycontrol.com/india/stockpricequote/consumer-food/adaniwilmar/AW |access-date=2023-05-02 |website=www.moneycontrol.com |language=en}}</ref>
| intl =
}}

'''AWL Agri Business,''' formerly Adani Wilmar, is an Indian multinational food and beverage conglomerate based in [[Ahmedabad]].<ref>{{Cite web |date=2022-03-23 |title=How Adani Wilmar Became India's Second-largest FMCG Firm |url=https://www.businesstoday.in/magazine/corporate/story/how-adani-wilmar-became-indias-second-largest-fmcg-firm-326608-2022-03-23 |access-date=2022-09-18 |website=Business Today |language=en}}</ref> The company was founded in 1999 as a joint venture between [[Adani Enterprises]] and [[Wilmar International]]. It is India's largest processor of edible oils. As of 2025, AWL operates 24 plants across 11 states in India<ref>{{Cite web |title=Adani Wilmar Limited report |url=https://www.hdfcsec.com/hsl.docs/Adani%20Wilmar%20Limited%20IPO%20Note-202201240935105714219.pdf |website=HDFC Sec}}</ref> and exports its products to more than 50 countries.<ref name="moneycontrol">{{Cite web |title=Adani Wilmar files for big-bang Rs 4,500 crore IPO; firm poised to be seventh listed company from Adani Group |url=https://www.moneycontrol.com/news/business/ipo/fmcg-major-adani-wilmar-files-for-big-bang-rs-4500-cr-ipo-poised-to-be-seventh-listed-firm-from-adani-group-7264181.html |access-date=2022-09-18 |website=Moneycontrol |date=2 August 2021 |language=en}}</ref>

== History ==
Adani Wilmar Ltd. was incorporated in 1999 as an equal joint venture between [[Adani Enterprises]] and Singapore-based Wilmar International.<ref name="businessinsider">{{Cite web |title=Fortune oil maker Adani Wilmar to open its ₹3,600 crore IPO on January 27 |url=https://www.businessinsider.in/business/corporates/news/fortune-oil-maker-adani-wilmar-to-open-its-3600-crore-ipo-on-january-27/articleshow/89033308.cms |access-date=2022-09-18 |website=Business Insider}}</ref><ref>{{Cite web |date=2022-05-19 |title=ICICI Securities initiates coverage on Adani Wilmar! Here's all you need to know |url=https://www.businesstoday.in/markets/company-stock/story/icici-securities-initiates-coverage-on-adani-wilmar-heres-all-you-need-to-know-334161-2022-05-19 |access-date=2022-09-18 |website=Business Today |language=en}}</ref>

Adani Wilmar's brand, Fortune, is an edible oils and foods brand.<ref name="businessinsider" /> Between 2014 and 2017, the company launched other packaged products, such as rice, soya chunks, and flour, under the same brand name.<ref>{{Cite web |date=2022-03-23 |title=Adani Wilmar betting big on rice segment; plans to acquire local brand |url=https://www.livemint.com/companies/news/adani-wilmar-betting-big-on-rice-segment-plans-to-acquire-local-brand-processing-units-11648027978914.html |access-date=2022-09-18 |website=mint |language=en}}</ref> Between 2019 and 2020, the company entered the personal care market under the brand Alife. During the same period, AWL also ventured into the ready-to-cook (RTC) products market.<ref name="moneycontrol" /> As of 2021, the company held an 18.3% market share in the branded edible oil market in India.<ref name="businesstoday">{{Cite web |date=2021-11-22 |title=Adani Wilmar IPO: Decoding the FMCG giant's hidden universe |url=https://www.businesstoday.in/latest/corporate/story/adani-wilmar-ipo-decoding-the-fmcg-giants-hidden-universe-312931-2021-11-22 |access-date=2022-09-18 |website=Business Today |language=en}}</ref><ref>{{Cite web |title=Adani Wilmar Ltd |url=https://www.icicidirect.com/mailimages/IDirect_AdaniWilmar_IPOReview.pdf |website=ICICI Direct}}</ref> It is India's largest processor of palm oil.<ref>{{Cite web |date=2022-05-26 |title=Adani Wilmar is Asia's Best Performing IPO |url=https://www.livemint.com/news/india/adani-wilmar-is-asia-s-best-performing-ipo-11653549922284.html |access-date=2022-09-18 |website=mint |language=en}}</ref><ref>{{Cite web |title=Adani Wilmar |url=https://chinadialogue.net/en/company-profile/adani-wilmar/ |access-date=2023-04-23 |website=China Dialogue |language=en}}</ref><ref>{{Cite web |date=2022-08-24 |title=Adani Wilmar shares fall over 8% in two sessions, here's why |url=https://www.businesstoday.in/markets/company-stock/story/adani-wilmar-shares-fall-adani-group-mukesh-ambani-reliance-industries-345490-2022-08-24 |access-date=2022-09-18 |website=Business Today |language=en}}</ref>

Adani Wilmar opened its three-day [[initial public offering]] (IPO) on 27 January 2022, and the issue closed on 31 January 2022. The listing took place on 8 February 2022.<ref name="businessinsider" />

In December 2024, [[Adani Enterprises]] announced that it would exit the Adani Wilmar joint venture by selling its 44% stake to public shareholders and Wilmar International.<ref>{{cite news |title=Adani Enterprises to exit Adani Wilmar JV; to sell 31% stake to Wilmar International |url=https://www.cnbctv18.com/market/adani-enterprises-share-price-to-exit-adani-wilmar-jv-shareholding-stake-sale-proceeds-timeline-method-19531732.htm |access-date=8 January 2025 |work=CNBCTV18 |date=30 December 2024 |language=en}}</ref> Adani Enterprises exited the company in November 2025 after the completion of the stake sale.<ref name="adani"/>

In February 2025, Adani Wilmar was renamed as AWL Agri Business Limited following the approval of its shareholders.<ref>{{Cite news |date=2025-02-26 |title=Adani Wilmar renamed as AWL Agri Business Limited after shareholders' approval |url=https://economictimes.indiatimes.com/industry/cons-products/fmcg/adani-wilmar-renamed-as-awl-agri-business-limited-after-shareholders-approval/articleshow/118549216.cms?from=mdr |access-date=2025-05-06 |work=The Economic Times |issn=0013-0389}}</ref>

== Subsidiary, acquisition & joint ventures ==
In 1993, BEOL (Bangladesh Edible Oil Limited) was established in [[Dhaka|Dhaka, Bangladesh]], as a 100% foreign-owned joint venture between Wilmar International of Singapore and the Adani Group of India.<ref name="businesstoday2">{{Cite web |date=2021-12-02 |title=How Adani Wilmar's little-known deal may propel its international biz in FY22 |url=https://www.businesstoday.in/latest/story/how-adani-wilmars-little-known-deal-may-propel-its-international-biz-in-fy22-314101-2021-12-02 |access-date=2022-09-18 |website=Business Today |language=en}}</ref>

In 2005, Adani Wilmar acquired the Mantralayam<ref>{{Cite news |last=Sharon |first=Meghdoot |date=2004-05-05 |title=Adani Wilmar has big plans for Mantralayam unit |work=Business Standard India |url=https://www.business-standard.com/article/markets/adani-wilmar-has-big-plans-for-mantralayam-unit-104050501109_1.html |access-date=2022-09-18}}</ref> and Haldia plants (refining).<ref>{{Cite web |title=Adani Group enters Bengal's ports sector; to modernise Haldia port at Rs 298 crore |url=https://www.timesnownews.com/business-economy/companies/adani-group-enters-bengals-ports-sector-to-modernise-haldia-port-at-rs-298-crore-article-94234619 |access-date=2022-09-18 |website=TimesNow |date=16 September 2022 |language=en}}</ref><ref>{{Cite news |last=Reporter |first=B. S. |date=2009-03-28 |title=Adani Wilmar to double Haldia unit capacity |work=Business Standard India |url=https://www.business-standard.com/article/companies/adani-wilmar-to-double-haldia-unit-capacity-109032800048_1.html |access-date=2022-09-18}}</ref><ref>{{Cite web |title=Protest hits Adani plant, contract workers gherao officials |url=https://www.telegraphindia.com/west-bengal/protest-hits-adani-plant-contract-workers-gherao-officials/cid/1844594 |access-date=2022-09-18 |website=www.telegraphindia.com}}</ref> From 2006 to 2009, AWL acquired multiple crushing and refining units in [[Bundi]], [[Shujalpur]], [[Nagpur]], and [[Neemuch]]. It also acquired Rajshri Packagers (refining), Acalmar Oils and Fats, and Satya Sai Agroils (refining).<ref name="icicisecurities">{{Cite web |url=https://www.icicisecurities.com/Upload/ArticleAttachments/Adani%20Wilmar%20Limited_RHP.pdf |title=Adani Wilmar Limited |website=ICICI Securities}}</ref> In 2011, the AWL group acquired the Alwar and Mundra castor units (crushing, refining, and industry essentials) and Gokul Refoils & Solvent (edible oil refining company). In 2018, the AWL group acquired a refinery from Louis Dreyfus Commodities, an edible oil refinery from Cargill, and rice plants from Ferozepur Foods. Joint ventures of AWL include KOG-KTV Foods Pvt. Ltd, KTV Health Foods Pvt. Ltd, and Visakha Polyfab Pvt. Ltd.<ref name="icicisecurities" />

In 2022, Adani Wilmar acquired the Kohinoor, Trophy Royale, and Charminar rice brands from [[McCormick & Company]].<ref>{{Cite web |date=2022-05-03 |title=Adani Wilmar buys several brands, including 'Kohinoor' to strengthen food business |url=https://indianexpress.com/article/business/companies/adani-wilmar-buys-several-brands-including-kohinoor-to-strengthen-food-business-7899597/ |access-date=2022-09-18 |website=The Indian Express |language=en}}</ref>

In 2024, Adani Wilmar acquired a 67% stake in the specialty chemicals company Omkar Chemical Industries.<ref>{{cite news |title=Adani Wilmar acquires 67% stake in Omkar Chemical Industries for ₹56.25 crore - CNBC TV18 |url=https://www.cnbctv18.com/market/stocks/adani-wilmar-acquires-67-pc-stake-in-omkar-chemical-industries-for-rs-56-25-crore-share-price-19442084.htm |access-date=29 August 2024 |work=CNBCTV18 |date=11 July 2024 |language=en}}</ref>

== Social responsibility ==
{{Independent sources|section|date=April 2023}}
Adani Wilmar Limited, along with the Adani Foundation, the [[Corporate social responsibility|CSR]] arm of the Adani Group, runs the Fortune SuPoshan initiative to address malnutrition and anemia in children.<ref>{{Cite web |last=Focus |first=ABP Live |title='Made A Name For Myself': SuPoshan Sanginis Drive Women Empowerment Narrative Across Nation |url=https://news.abplive.com/business/i-have-made-a-name-for-myself-suposhan-sanginis-drive-the-women-empowerment-narrative-across-country-1569829 |access-date=2023-04-22 |website=ABP Live |date=15 December 2022 |language=en}}</ref><ref>{{Cite news |date=2022-12-24 |title=Extending aidto underfed children |work=The Times of India |url=https://timesofindia.indiatimes.com/city/lucknow/extending-aidto-underfed-children/articleshow/96470360.cms |access-date=2023-04-22 |issn=0971-8257}}</ref>

== Criticism and controversies ==
In 2016, the [[Government of Maharashtra]] released an official statement indicating that Adani Wilmar had violated regulations set by the [[Food and Drug Administration, Maharashtra State|Food and Drug Administration (FDA) of Maharashtra]] while promoting its blended edible vegetable oil, Fortune Vivo. The company had made claims about the oil's medicinal properties, including its ability to regulate diabetes. [[Madan Yerawar]], the Minister of State for FDA, stated that a raid was conducted on Adani Wilmar's storage facility in [[Panvel]] after deceptive information was identified on both the product advertisements and packaging.<ref>{{Cite news |last=Deshpande |first=Alok |date=2016-12-07 |title=Adani's oil brand misled buyers: State govt. |language=en-IN |work=The Hindu |url=https://www.thehindu.com/news/cities/mumbai/Adani%E2%80%99s-oil-brand-misled-buyers-State-govt./article16774354.ece |access-date=2023-06-26 |issn=0971-751X}}</ref>

Adani Wilmar, along with other members of the [[Roundtable on Sustainable Palm Oil]], has been criticized for its role in deforestation and the loss of habitat for orangutans, tigers, and elephants in the [[Sumatra]] and [[Borneo]] regions of Indonesia and Malaysia.<ref name=":0">{{Cite web |last=Adani Watch |date=September 2020 |title=Dossier on the Adani Group's environmental and social record |url=https://www.banktrack.org/download/dossier_on_the_adani_group_s_environmental_and_social_record/adani_dossier_preliminary_sept2020_intermediate_21.pdf}}</ref><ref>{{cite news |title=How oil palm could kill orangutans |url=https://www.thehindu.com/opinion/op-ed/How-oil-palm-could-kill-orangutans/article11408795.ece |access-date=29 August 2024 |work=The Hindu |date=12 March 2014 |language=en-IN}}</ref> The nonprofit Adani Watch states that "through its joint venture with Wilmar, Adani is a major refiner and trader in palm oil, an industry responsible for devastating large areas of rainforest in Southeast Asia."<ref name=":0" />

In June 2022, [[Center for Advanced Defense Studies|C4ADS]] stated in its report that food companies, including Adani Wilmar, "continue to enable forced labor through their indiscriminate import of tainted palm oil."<ref>{{Cite web |last=Shereikis |first=Nick |date=2022-06-02 |title=Spoiled Fruit |url=https://c4ads.org/commentary/spoiled-fruit/ |access-date=2023-04-23 |website=C4ADS |language=en-US}}</ref>

On 9 February 2023, the Himachal Pradesh Excise Department raided the company's warehouses in the state.<ref>{{Cite web |last=KO |date=2023-02-09 |title=More Trouble For Adani? Himachal Excise Dept Raids Adani Wilmar Warehouse - Kashmir Observer |url=https://kashmirobserver.net/2023/02/09/more-trouble-for-adani-himachal-excise-dept-raids-adani-wilmar-warehouse/ |access-date=2023-04-22 |language=en-US}}</ref>

In February 2023, Adani Wilmar's joint venture with KTV Group was penalized by the [[Supreme Court of India]] for violations of coastal regulations in [[Tamil Nadu]]. The company had constructed an oil storage facility and pipeline, and local fishermen claimed that oil leaks from the 7-kilometer pipeline were killing fish in the area. The court ordered that the facility be demolished.<ref>{{Cite web |title=How an Adani Joint Venture Tried to Use Semantics to Circumvent Green Laws – at Cost of Fishers |url=https://thewire.in/environment/adani-joint-venture-ktv-oil-mills-health-food |access-date=2023-04-23 |website=The Wire}}</ref>

== References ==
{{Reflist}}

== External links ==

* {{Official website|https://www.adaniwilmar.com/}}
* [https://www.fortunefoods.com/ Fortune Foods]

[[Category:Indian brands]]
[[Category:Food and drink companies of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]
[[Category:Multinational companies headquartered in India]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Indian companies established in 1999]]
[[Category:Companies based in Gujarat]]
[[Category:2022 initial public offerings]]

AWL Agri Business - Revision history

Ansuma Basumatary at 00:48, 29 April 2026